The retail prices of E5 RON 95 and E5 RON 92 petrol rose by VND580-600 per litre to VND23,870 and VND23,150 per litre respectively.
Meanwhile, the price of diesel and kerosene increased by VND660 and VND620 per litre to VND18,230 and VND17,130 per litre consecutively.
Mazut oil saw a rise of VND620 per kilo.
This is the second consecutive price hike of petroleum products since December 25.
The Ministry of Industry and Trade and Ministry of Finance have decided to adjust gasoline prices every ten days, to help keep domestic gasoline prices in line with global fluctuations from January.
Under the new rules, gasoline prices will be regulated on the 1st, 11th and 21st day of each month, putting prices onto a ten-day cycle. Industry insiders agree that this shorter period is necessary to keep up with world fluctuations.
Currently, the minimum interval between two consecutive adjustments in the same direction (two increases or two decreases) is 15 days.